Consumer Confidence June | [TUE] | E 57.0 | P 57.2 | modest Durable Goods Orders May | [WED] | E 0.0 | P -0.5% | modest New Home Sales May | [WED] | E 510,000 | P 526,000 | modest Crude Inventories 6/21 | [WED] | P -1,242,000 | modest Next Fed Meeting | [WED] | elevated impact Initial Jobless Claims 6/21 | [THU] | E 375,000 | P 381,000 | modest Gross Domestic Product Q1 | [THU] | E 1.0% | P 0.9% | modest GDP Chain Deflator Q1 | [THU] | E 2.6% | P 2.6% | modest Existing Homes Sales May | [THU] E 4,900,000 | P 4,890,000 | modest Personal Spending May | [FRI] | E 0.7% | P 0.2% | modest Personal Consumption Expenditures May | [FRI] | E 0.2% | P 0.1% | elevated impact Core PCE Year | [FRI] | P 2.1% | elevated impact Personal Income May | [FRI] | E 0.4% | P 0.2% | modest

  June 13, 2008 | Mortgage Rates are headed down... PPI comes in red hot with Food and Fuel prices pushing inflation.  The Core PPI hit expectations and held onto the 3% year over year gains.  Inflation with no hope of the Fed bailing out investors should help push bond prices higher as investors move to a flight to quality in Mortgage Backed Securities.  Mortgage Bonds have hit a floor of support and bounced Monday and Friday off.  This usually signals a reversal. 

Producer Price Index May | 1.4% | E 1.0% | P 0.2% | modest Core PPI May | 0.2% | E 0.2% | P 0.4% | modest Building Permits May | 969,000 | E 950,000 | P 978,000 | modest Housing Starts May | 975,000 | E 980,000 | P 1,032,000 | modest Capacity Utilization May | 79.4 | E 79.7 | P 79.7% | modest Industrial Production May | -0.2% | E 0.1% | P -0.7% | modest

Empire State Index June | -8.7  | E -2.4 | P -3.2 | modest

Empire State Index June | [MON] | E -2.4 | P -3.2 | modest Producer Price Index May | [TUE] | E 1.0% | P 0.2% | modest Core PPI May | [TUE] | E 0.2% | P 0.4% | modest Building Permits May | [TUE] | E 950,000 | P 978,000 | modest